April 30, 2009

Legends And Rituals

From The New York Times about a week ago:

"According to a study... boomer households account for unexpectedly high percentages of sales of products considered mainstays of younger consumers. That includes beer, 59.7 percent; carbonated beverages, 58.9 percent; and candy, 54.2 percent..."

To the enlightened readers of The Ad Contrarian, this should not be surprising. On many occasions we pests here at TAC have commented on the stupidity of marketers who think they are required to target young people because everyone else does. In a post called "Aiming Low" we said,

"Of all the dumb things that advertisers do, one of the dumbest is aiming their message too young...

Some facts:

* People over 50 comprise 29% of the population* They control 77% of financial assets* They control 50% of all discretionary spending* They watch 50% more television* They are the target for 10% of all advertising

There are only two possible explanations for the above. Either advertisers are crazy, or they are hopelessly out of touch with, and prejudiced against, the people who economically control this country."

For decades, older consumers were largely shunned by marketers... young consumers ...were desired for what were deemed their free-spending ways, eagerness to sample new products and brand-switching proclivities. The idea that they were starting in life with a proverbial blank slate of marketing wants and needs was catnip to product peddlers...

“When you’re a 27-year-old media supervisor or a 32-year-old brand manager, what do you think the world looks like?” Jerry Shereshewsky, chief executive at Grandparents.com. “You think it looks like you..."

Among those aiming more at the older demographic are giants like...Kraft Foods, L’Oréal, Procter & Gamble and Target.

Is there another industry in the world that operates on legends and rituals more than the marketing industry?

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